Crude prices dip on expected climb in US output

Crude prices dip on expected climb in US output

On Tuesday, crude prices sagged in thin trade, after the Easter holiday break closed many markets for as long as four days and an American government report showed ascending output.

Brent crude futures slid 9 cents, trading at $55.27. On Monday, they concluded a quiet trading session, down 53 cents, reaching $55.36.

West Texas Intermediate crude futures sagged 9 cents, being worth $52.56 a barrel. The given benchmark settled down 53 cents, getting to $52.65 a barrel.

The benchmark for American crude had also ascended for three straight weeks through Thursday, right before the Easter break.

Market participants have been pushing crude up for nearly a month. This week market experts expect some healthy price correction.   

In May, American shale output is likely to report the greatest monthly revenue in more than two years, as government data revealed on Monday because shale crude producers increase the pace of drilling with crude prices holding above $50 a barrel.


US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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